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Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
 Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old history. Yesterday, the Baltic Dry Index, a leading gauge which tracks the cost to hire a dry bulk carrier, hauling commodities such as iron ore and coal, kept its upwards momentum, albeit it showed the first signs of fatigue after almost eight weeks of rallying.
The BDI ended at 4,661 points, up by 18, but the Capesize sector posted its first daily drop in many days, with the relative index (BCI) now at 8,056, down by 187 points. Still average daily time charters for capesizes stand at $ 87,118, close to this year’s highs.
According to Jim Wong, an analyst with Nomura Holdings of Hong Kong, the Baltic index will average 4,000 points in 2010. In a relative report he mentioned that the 4,000 level implies all contracts are profitable. He also added that “we reiterate our bullish view on the dry-bulk shipping sector, as we expect dry demand, mainly from China, will continue to improve, coupled with less-than-expected supply resulting from order-book delays and cancellations.”
Those are the good news thus far, since the market has raced towards the end of year, a rally which helped some owners find their optimism, book some good deals and boost their finances. But, once again, this latest rally of more than 450% from the beginning of 2009 has been fuelled by Chinese iron ore imports and ship congestion in key ports of China, Australia and Brazil. As everyone in the market knows, this factor is quite volatile and as soon as iron ore stocks in China are replenished, the BDI could very well head the opposite direction.
This time more than ever, it’s imperative for owners to scrap their older vessels, as they will compete with their younger ones, as soon as they are delivered. According to Peter Norfolk, director at SSY Consultancy and Research, who was quoted by Bloomberg, at the start of 2009 about 170 Capesize vessels were on order for delivery this year alone. However, net new ship availability amounts to just 35 vessels currently, as a result of scrapings, congestion and the fact that some greenfield shipyards have either not been built or have not delivered on schedule.
About 300 Capesize vessels were on order for 2010, Mr Norfolk said, but there was huge uncertainty over how many would be delivered.
Meanwhile, it is estimated that a total of 600 new building orders have been cancelled by ship owners. Out of them, about 400 ships or 65% are dry bulk carriers, with reportedly 120 of them Capesizes. however, this doesn’t mean much, as most yards continued building the vessels, in hopes of finding other buyers, which in fact has been the case with many Chinese owners, who are backed by local banks and of course the government.
Another interesting factor is that the main volume of cancellations occurred until May. Since then, the rate of cancellations was practically erased, with virtually no other cancellations, apart from a handful of tankers and container ships. Still, China alone seems to be able to support the market, as the country is investing in public works, which alone is a boost for demand of raw materials, while the real estate market is also on the rise.
As long as other economies return to the market, with the exit from the recession slowly becoming a reality (Singapore was another country which declared its economy is now out of the recession), dry bulk owners will have more things to cheer about.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
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